Will profits from cryptocurrency trading worth millions be confiscated? Will cashing out freeze my bank card? Will it involve criminal offenses? Recently, a few fans who traded cryptocurrencies made hundreds of thousands and came to ask me if their trading is illegal, whether their profits will be reclaimed and confiscated, and if their bank cards will be judicially frozen during the cashing out process, and if they might be involved in criminal cases after freezing?

I also consulted my lawyer friend, and today I will talk about the legal risks of personal cryptocurrency trading.

First, currently, the legal provisions regarding virtual currency can be summarized in one sentence: personal trading of virtual currency does not violate legal provisions, but cashing out and receiving ill-gotten gains may be judicially frozen, facing return and unfreezing.

Second, will the profits be confiscated? There are no legal provisions regarding the punishment or confiscation of profits from virtual currency; it is a behavior that carries the risk of self-burden, and there will be no mandatory penalties for confiscation.

Third, if the source of the funds received from cashing out is related to fraud, and if your transactions are normal, your bank card may be frozen, but it will not escalate to a criminal case.

Generally, criminal involvement in virtual currency trading is related to U merchants, do you understand?